The EURCHF found very good support at the 1.07 and has moved up 100 pips. It has now come to a level where the bears may come back into the picture. Here are the reasons to short:
1) 1.0800- 1.0810 has a good monthly resistance.
2) 1.08 is a round number.
3) There are not one but two patterns to short here.
I will wait for a trigger on the patterns to short this pair.
1) 1.0800- 1.0810 has a good monthly resistance.
2) 1.08 is a round number.
3) There are not one but two patterns to short here.
I will wait for a trigger on the patterns to short this pair.
Comment:
Bulls are still in control. No reason to short yet.
Comment:
This pair is ready to be shorted. Will wait for the test of the 1.08 level again with a small pattern for a short opportunity.
